Over the past year, US banks have been hit by unprecedented fines over alleged wrongdoings, ranging from the mis-selling of mortgage products to helping American citizens evade paying taxes. JPMorgan Chase’s $13bn settlement with the US Department of Justice was the most palpable example. While others have either not yet reached a settlement or decided to challenge authorities in the courts, questions have been raised over the impact of such penalties on US banking.
Philip Alexander reports on the full results of The Banker’s Top 1000 World Banks ranking 2014, in the story Top 1000 World Banks 2014: Back on track?
